Insider Selling: HNI Co. (NYSE:HNI) Director Sells $113,900.00 in Stock

HNI Co. (NYSE:HNI) Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the completion of the transaction, the director now directly owns 37,880 shares of the company’s stock, valued at $2,157,266. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

HNI Stock Up 0.6 %

HNI stock opened at $56.06 on Friday. The business’s 50-day simple moving average is $54.06 and its two-hundred day simple moving average is $50.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The company has a market cap of $2.68 billion, a PE ratio of 21.73, a PEG ratio of 1.61 and a beta of 0.88. HNI Co. has a fifty-two week low of $39.44 and a fifty-two week high of $58.42.

HNI (NYSE:HNI) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. During the same quarter in the prior year, the company earned $0.93 EPS. HNI’s quarterly revenue was down 5.5% on a year-over-year basis. Equities analysts anticipate that HNI Co. will post 2.93 EPS for the current year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.35%. The ex-dividend date was Monday, November 18th. HNI’s payout ratio is 51.16%.

Institutional Investors Weigh In On HNI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of HNI by 1.1% in the third quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock worth $101,033,000 after buying an additional 20,717 shares during the last quarter. FMR LLC boosted its position in HNI by 275.3% in the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock worth $98,861,000 after purchasing an additional 1,346,999 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HNI by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock worth $73,180,000 after purchasing an additional 9,901 shares during the period. Geode Capital Management LLC increased its holdings in shares of HNI by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider’s stock valued at $58,419,000 after purchasing an additional 7,553 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of HNI by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 565,012 shares of the business services provider’s stock valued at $25,437,000 after purchasing an additional 17,151 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

HNI Company Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.